Governance
IMF ‘policy book' tackles Mena central bank challenges
IMF's monetary and capital markets department analyses operational frameworks of Mena central banks, and obstacles to monetary policy; urges Basel III adoption
DR Congo central bank names new governor
Head of markets given the nod as Jean-Claude Mulongo steps down after three terms; takes over after dramatic cycle of tightening drags inflation into single digits
RBI governor finds ‘a lot of scope for improvement’ in IMF advice
Duvvuri Subbarao examines performance of the IMF since the financial crisis, and finds the Fund wanting in a number of areas
Central Bank of Trinidad and Tobago’s Jwala Rambarran on reform in the Caribbean
Jwala Rambarran has not yet celebrated his first anniversary as governor of the Central Bank of Trinidad and Tobago – but is already making a splash, writes Tom Bowker
Central banks adopting social media at different paces, finds CBJ study
A new Central Banking journal study shows that institutions around the world are adopting very different approaches in their deployment of social media techniques
Central Bank of Iceland’s Már Guðmundsson on crisis management and capital controls
Lessons learned from Iceland’s crisis resulted in the IMF changing its rulebook on the use of capital controls. But the country’s change in fortunes is no ‘miracle’ (scroll down for interview).1
China’s new financial and regulatory architects
Keeping Zhou Xiaochuan as governor of the People’s Bank of China will provide policy stability in the world’s second largest economy. But there are plenty of changes elsewhere
Bank Negara Malaysia’s approach to developing a financial inclusion index
Malaysia’s index of financial inclusion was created as a first step to increasing the depth of financial participation in the country, but more data is needed, says Zarina Abd Rahman
Bretton Woods Transcripts reveal insights into IMF quotas and governance
In the second of a three-part series, Andrew Rosenberg writes about how the negotiators at the Bretton Woods conference in 1944 spent much of their time deliberating quotas and governance for the IMF
People: New director-general at Bank of Italy; Bank of Israel adviser ends 30-year tenure
Salvatore Rossi becomes Bank of Italy's director-general; Barry Topf leaves Bank of Israel after 30 years; and more
Bank of Canada names Stephen Poloz as governor
The CEO of Export Development Canada Stephen Poloz is a surprise pick to replace Mark Carney; governor designate backs existing monetary policy framework and says inflation target is ‘sacrosanct’
BIS paper urges central banks to build their own financial buffers
Paper provides framework for central banks to assess the financial resources they should hold to protect themselves against losses; Jaime Caruana stresses importance of financial independence
People: Bank of Italy's Saccomanni becomes Italian finance minister; Kuroda replaced at ADB
Director-general at Italian central bank gets top government role; Takehiko Nakao moves from Japanese finance ministry to head Asian Development Bank
People: New governor for Central Bank of Venezuela; Bank of Lithuania gets new board member
Venezuelan president Nicolas Maduro has nominated Edmée Betancourt to take over at the top of the central bank; Norges Bank economist to return home for Bank of Lithuania board seat; and more
Maduro picks central bank chief for Venezuela's finance minister
Nelson Merentes will be finance minister and central bank governor for the time being; analysts see his appointment as part of a shift to a more 'pragmatic chavismo'
Riksbank deputy Lars Svensson steps down
Riksbank’s ‘most committed dove’ will leave the central bank in May after failing to win the other members of the Executive Board round to a more expansionary monetary policy
Emerging markets demand greater say in IMF affairs
G-24 group of emerging markets and developing countries urges IMF members to accept reforms to voting shares, pointing to 'serious flaws' in current formula
People: Iceland deputy handed second term; IMF appoints new statistics head
Arnór Sighvatsson gets second and final term at Central Bank of Iceland; Canadian ‘chief statistician' makes DC switch to head IMF stats office
People: Central Bank of Trinidad and Tobago gets new deputy; Fiji management shake-up
Central Bank of Trinidad and Tobago names Alvin Hilaire as new deputy; Fijian IMF secondment sets off managerial merry-go-round; and more
Thatcher's stance on the ECB deserves re-appraisal
Former UK prime minister Margaret Thatcher feared an independent ECB ‘accountable to no one, least of all national parliaments'. Her concerns seem even more relevant today
Ireland’s financial regulator quits central bank
Deputy governor for financial regulation announces departure to ‘pursue other interests’; term spanned turbulent period for Ireland’s economy
Cyprus deputy sacked after two months
President revokes contract of central bank’s first ever deputy governor, whose ethnic Greek heritage made his appointment unconstitutional
Hungarian deputy governor resigns over new central bank regime
Last remaining deputy from the previous regime cites lack of professional debate and 'Potemkin' approach to stimulating growth